Predictability of short-term interest rates: a multifactor model for the term structure

Article Abstract:

A multifactor model based on arbitrage price theory for short-term interest rates has been developed and applied in forecasting horizons running from one to thirty business days. The factors employed in the model are the term structure of interest rates for times to maturity running from three months to thirty years, from portfolios constructed from treasury bills and government bonds. The multifactor model was used to generate out-of-sample forecast errors for 1,000 consecutive business days ending Mar 31, 1997, for eight different short-term interest rates.

Models, Interest rates

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Revenue foregone

Article Abstract:

Motions are being made within the Office of Management and Budget to privatize the postal service. Securing revenue foregone appropriations by Congress for 1987 appear to be dwindling, thus making changes in rates for nonprofit and regular mail inevitable. Growth in use of preprints by advertisers will also have a significant effect on third class mailer competition, since newspapers are becoming the most popular preprint medium.

Economic aspects, Revenue, United States. Office of Management and Budget

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USPS may raise rates

Article Abstract:

The Third Class Mailing Association and the U.S. Postal Service were at odds at their November 1985 meeting. The Postal Service refused to budge on its five-digit pre-sort sacking changes that would, in essence, raise the cost of mailers without changing the postal rates. Postal rates should remain stable through 1988.

Finance, Prices and rates, United States. Postal Service, Third Class Mail Association

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